Thursday’s sell-off gains steam, with the Dow losing 500 points (truncated)

CNBC ^ | 3/9/2023 | Samantha Subin and Hakyung Kin

[Tell It Right]

Stocks accelerated losses in the final hour of trading Thursday as banks and other financials sold off, and investors braced for a key payroll report Friday that could set the direction of interest rates.

The Dow Jones Industrial Average last dropped 510 points, or 0.56%, while the Nasdaq Composite shed 1.95%. The S&P 500 fell 1.8%.

[Tell It Right]

As or right now the S&P 500 is down 18.4% from its ATH on Jan 3. It's up a whopping 3% since Brandon entered the WH over 2 years ago.

[Signalman]

32,264.22
-534.18

[1Old Pro]

The economy is GREAT!

[DaxtonBrown]

That explains why my stock is falling for no reason. Just have to wait it out.

[wally_bert]

The TDS sufferers will see that image as a blank area on a webpage.

[ClearCase_guy]

Falling like Mitch McConnell.

[Tell It Right]

IMHO the S&P 500 has at least another 15% or more to go down. Historically when bear markets take a while (it's been going down for over a year now) it's gone down 49% (the 2000-2002 bear market lasting 2.5 years) or 56% (the 2007-2009 bear market lasting 1.5 years).

Contrast that with the 2020 and 1987 quick bear markets in which the S&P 500 dropped "only" 30+% and did it in a few months.

[Tell It Right]

Falling like Mitch McConnell.

Good one. I used to say stocks were falling like Hillary trying to walk. LOL

[GOPJ]

Market's crashing and war closing in is a side benefit/horror of choosing 'leaders' based on sexual kink, pretensions, very average types (with powerful fathers or grandfathers) and angry black women who exude nonstop hatred and limited intellect.

Not a recipe for success.

There's a reason choosing the 'best and brightest' of all colors and sexuality works better... think trans stealing women's luggage and transportation types who reek of incompetence. We can do better.

[crusty old prospector]

I didn’t know that was true until I did my parents’ taxes a few years ago.

[rexthecat]

President Reagan supported taxing social security.

[allendale]

For the past year or so, the rice of gold has run parallel to the price of stocks. If stocks declined, gold declined, if stocks rose, gold rose. Today with the big market decline, the price of gold rose. FRiends any thoughts? Not a big speculator but been wondering why gold has not steadidly increased in value in view of serious inflation and continued government deficit spending.

[Vaduz]

Tomorrows jobs numbers may do more damage if not good.

[Robert A Cook PE]

Since Nov 2020, how have the three done against inflation?

Savings accounts are 0.5%.
Real inflation (food, fuel, and housing included!) are 12 - 15%.
The Dow? The S&P 500?

[Captain Peter Blood]

Don’t worry the number will be fake for the sake of the markets and the inflation number will be fake too.

[Vaduz]

Some other numbers coming out soon may not be good stock up.